MS HB1545

Increases broadband speed definition from 384 kilobits per second to 35 megabits per second downlink and 3 megabits per second uplink for mobile broadband, or capability to provide fixed broadband service as defined by Section 77-19-3.

Extends the income tax and corporation franchise tax credit for telecommunications enterprises investing in broadband equipment deployment from July 1, 2025 to July 1, 2030, maintaining credit rates of 5% for Tier One areas, 10% for Tier Two areas, and 15% for Tier Three areas.

Creates separate ad valorem tax exemptions for equipment placed in service after June 30, 2025 and before July 1, 2030: fixed broadband equipment exempt for ten years if meeting FCC's then-current fixed broadband speed benchmarks, and mobile broadband equipment exempt for five years if meeting 35 megabits per second downlink and 3 megabits per second uplink speeds.

Requires taxpayers to submit a certified, sworn description of equipment including transmission speeds to the county tax assessor by April 1 of the first assessment year in which an exemption is claimed.

Takes effect January 1, 2025.